China Gezhouba Group Co Ltd today announced that it has won the bid for a piece of land in Lingshui County, Hainan Province for RMB 2.47 billion.

The company intends to build a hotel on the site, and the parcel’s area is 374,200 square meters or 561.3 mu.

An analyst said that Hainan is in a comparative downturn property market in June. The province’s property sales area for the same month declined 20.56% year on year and it also suffered a year-on-year decrease of 29.18% in sales revenue.

The Shanghai-listed firm, a subsidiary of state-owned China Gezhouba Group Corp, reaped RMB 326.23 million in net profit in the first quarter of this year, reflecting a year-on-year increase of 26.33%, and its total assets were RMB 45.04 billion as of Mar. 31. 
 

 

Editorial Message  
This site contains materials from other clearly stated media sources for the purpose of discussion stimulation and content enrichment among our members only.
whatsonsanya.com does not necessarily endorse their views or the accuracy of their content. For copyright infringement issues please contact
editor@whatsonsanya.com